Deposit Insurance Flexibility Act Amendments of 1984

Summary

Deposit Insurance Flexibility Act Amendments of 1984 - Amends the National Housing Act to provide that where a merger, consolidation, transfer, or acquisition involves an insured savings institution which is eligible for assistance and a bank or bank holding company, an insured savings institution may retain and operate any existing branch or branches, including one or more remote service units, but otherwise shall be subject to the conditions upon which a national bank may establish and operate branches in the State in which such insured institution is located. Requires an insured institution acquired by a bank or bank holding company to be operated as a separate, independent, profit-oriented corporate entity. Prohibits an acquiring institution, bank subsidiary, or other subsidiary of the acquiring institution from linking its deposit taking activities to accounts at such insured institution, or soliciting deposits or loans for the insured institution. Prohibits an acquired insured institution or any of its subsidiaries from soliciting deposits or loans for the acquiring institution. Prohibits an acquired insured institution from: (1) changing its name in such a fashion as to confuse the public as the insured institution's status as a nonbank, thrift institution; or (2) converting its charter to that of a State savings and loan association or other State-chartered thrift institution or to a national or State commercial bank or trust company without prior approval of the Federal Savings and Loan Insurance Corporation and the Board of Governors of the Federal Reserve System.

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1 official file

• Introduced in Senate

  summary · EN · 11 April 1984

  Open at official source

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